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1771 N Pierce St, Arlington...

VIDA Fitness Leases 27000 Square Feet From Penzance At 1771 N Pierce St Arlington
LEASEDMixed-use

VIDA Fitness Leases 27000 Square Feet From Penzance At 1771 N Pierce St Arlington

1771 N Pierce St, Arlington, VA, 22209

Building Size

27,000 SF

Asset Type

Mixed-use

Closing

Nov 19, 2023

AI

The property asset involved in the transaction is a lease located at 1771 N Pierce St, Arlington, VA, 22209. This property is situated in the Arlington market and encompasses a total area of 27,000 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 1771 N Pierce St, Arlington, VA, 22209
  • Market: Arlington
  • Square Feet: 27,000
  • Tenant: VIDA Fitness
  • Landlord: Penzance
  • Tenant's Representative: John Asadoorian, Asadoorian Retail Solutions
  • Landlord's Representative: Alex Walker

The key individuals in this transaction include John Asadoorian, who represents the tenant, VIDA Fitness, and Alex Walker, representing the landlord, Penzance. Their roles were pivotal in facilitating this lease agreement.

Players

Alex Walker

Broker

4 deals

Broker

Arlington Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93